B
Priority Health Ins Co
Rating Date
September 2023
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Total
Assets
Capital
Health
Premiums
Net
Income
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Major Rating Factors: Good overall results on stability tests (5.6 on a scale of 0 to 10). Rating is significantly influenced by the excellent financial results of Corewell Health. Good liquidity (6.8) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Fair profitability index (3.9) with 2.1 million in losses in the current year. Return on equity has been fair, averaging 6.4% over the last five years.
Other Rating Factors: Fair quality investment portfolio (4.2) containing large exposure to common stock. Excellent overall capitalization (7.1) based on good current risk-adjusted capital (severe loss scenario) despite some fluctuation in capital levels.
Principal Lines of Business: --
Licensed in: MI
Principal Enrollment Breakdown: --
Other Highlights
Medical Loss Ratio
Medical Expense
Per Member Per Month ($)
518
Provider Compensation ($000)
Capitation Pay
0
Fee For Service
Contractual Pay
Salary
0
Bonus
Other
--
Member Physicians
Enrollment
Total Patient Encounters
Physician
Non-Physician
Corporate Info
Group Affiliation
Corewell Health
Investment Rating
--
Company Address
1231 East Beltline, NE
Grand Rapids, MI 49525
Phone Number
(616) 942-0954
NAIC Number
12208
Largest Affiliates
A
Grand Rapids, MI - Health
B
Grand Rapids, MI - Health
B
Grand Rapids, MI - Health
B
Grand Rapids, MI - Health
Weiss Ratings